Fowler Welch parent expects second-half losses

Leeds, UK: Dart Group, owner of temperature control haulier, Fowler Welch and airline, said it expects to make losses in the second half of its financial year despite reporting a “satisfactory summer”.

In a trading update today, the aviation and distribution business said pre-tax profits for the first-half of the year are set to be better than last year’s performance with a “similar level of losses expected in the second half of the year”.

Fowler Welch revenues were said to have grown in line with the board’s expectations, although the business has “also experienced some pressure on margins”.

The company said “still hopes to meet market expectations for the current year”.

Dart’s interim results are expected on 17 November 2011.